WHERE TO START WITH CREDIT CARD QUESTIONS

sirboz

maybe basic but im still not sure so would appreciate any guidance !

I have one credit card, spend about 1000 per month on average, pay it off every time. I am deciding whether its best to start stoozing, (instead of paying it off , pay the same funds into a high interest account)

or would i be better to get a good cashback credit card (egg is the best ??)

which would be more beneficial ?

YorkshireBoy

sirboz wrote:

maybe basic but im still not sure so would appreciate any guidance !

I have one credit card, spend about 1000 per month on average, pay it off every time. I am deciding whether its best to start stoozing, (instead of paying it off , pay the same funds into a high interest account)

or would i be better to get a good cashback credit card (egg is the best ??)

which would be more beneficial ?

Similar question asked here recently, although this one was about 'fast-stoozing'...

http://forums.moneysavingexpert.com/showthread.html?t=128110

If you spend £1,000 a month and receive 1% cashback then that'll net you £120/year.

You'd need to maintain an average £3,500 in your stooze pot to beat that return (with ING at 3.60% AER net of basic rate tax).

angus1

I have been reading the article on credit card shuffling. Is it worth phoning my RBS card (once I've cleared it this month) and asking if they have an existing customer offer on balance transfers, then transferring the £500 on my Tesco card that I won't be able to clear this month, so being charged less interest?

Also, will I be able to do this as Tesco are part of RBS?

Am new to this so would appreciate some advice. Thanks

grumbler

angus1 wrote:

... will I be able to do this as Tesco are part of RBS?...

No. Card Features and Benefits:

If you owe money on other credit cards and store cards (but not other Royal Banks of Scotland Group cards), you can move the balances ...

tilly2_2

Can anybody help me please.

I am looking to cancel all the payment protection payments on credit cards and loans and trying to get them covered by one insurance company. Does anybody know who will do this.

Carol

jasonrat

hi i have never dreamt of owning a credit card i only buy something if i have the means. but we are going to america this year for a holiday and noticed that car companies require credit cards. does anyone know of a credit card that i could use that would be most beneficial to use. i dont plan on using it alot and would rather not pay interest on anything. if i dont use it again after america will i still be charged? thx in adavance

YorkshireBoy

jasonrat wrote:

does anyone know of a credit card that i could use that would be most beneficial to use. i dont plan on using it alot and would rather not pay interest on anything.

The Nationwide card is widely regarded as the best for overseas purchases, and the Nationwide 'Classic' card currently has an introductory offer of 0% on purchases for 9 months.

jasonrat wrote:

if i dont use it again after america will i still be charged?

No, there is no annual fee for holding the card.

http://www.nationwide.co.uk/creditcard/ClassicCard/default.htm

alphafox

When recently looking for a Credit Card there were loads about, a bit mind boggling, I knew what I wanted but found it hard to put my finger on the right one, started viewing forums for suggestions, got some good tips, but eventually was drawn toward the Google search, what a mission 29 pages of sponsored ads.

Ended up at moneysupermarket.com, which i thought looked ok and would find the credit card with the perks that i wanted which was, no annual fee and basically a good interest free period, but too my dismay they wanted to know the ins and outs of a cats !!!!!!, I only wanted to comapre credit cards, i then visited a few other sites but found the same problem, and i realised why, many of the sites were using an an iframe and displayiing a generic moneysupermarket.com feed.

At this time, im a bit naffed off, sick of typing my name in. by way of chance i found a cool website with credit card comparison, very detailed but simple to use, found a list of credit cards to my requirements in 30 seconds without even typing my name in, it is creditcard-rc.com, it should help any newbie credit card users to get the best deal and ensure savings are kept to a maximum.

Credit Cards

While im chatting, anyone know when the keyring credit cards are hitting the UK, I heard some info about them being highly popular in the USA.

obsessive_2

This is probably a very basic question, but any advice would be gratefully received.

I am getting a HSBC credit card, with a credit limit of 5k. The card comes with 0% on balance transfers, but I think I'll only have a certain, shortish, period to make the transfers at 0%/fees free.

I don't currently have that much debt on my only other credit card (a Tesco card) to 'use up' all this 5k limit. My normal monthly spend on my Tesco card is about 1200 pounds.

Is it possible immediately to 'balance transfer' 5k from HSBC to my Tesco card, so that I will have a positive balance on the Tesco card (which will then get 'swallowed up' by the next few months' spending)? Or can one only transfer an actually existing debt.

Thanks, Obsessive

grumbler

obsessive wrote:

Is it possible immediately to 'balance transfer' 5k from HSBC to my Tesco card, so that I will have a positive balance on the Tesco card (which will then get 'swallowed up' by the next few months' spending)?

Yes, although all CC companies don't like this and some (Sainsburys, for example) even forbid doing this in T&C: Help! Cant transfer balance off card .